The two companies broke off merger talks in September, effectively ending a deal that would have created a market-leading firm with a value of more than $60 billion. German group Linde said at the time that discussions about governance aspects did not result in a mutual understanding. Possible headquarters locations, as well as job and employment situations, were said to be some of the sticking points.

Linde CEO Wolfgang Buechele said late last month the company was not considering reviving merger talks with Praxair. The chief executive will step down when his term ends in April.

Shares of Praxair were up more than 1 percent during intraday trade Tuesday.

Praxair and Linde did not immediately respond to CNBC's request for comment.